Hey there, Hard Knocks Community!💰

Ready for another jam-packed School of Hard Knocks Newsletter? Today, we're featuring Carolyn Aronson, CEO of It's a 10 Haircare. As one of only three self-made Latina billionaires in the world, Carolyn built her brand into a billion-dollar empire spanning 73 countries. Throughout her entrepreneurial journey, Carolyn overcame hardships and scaled her business to international success.

Today’s Schedule

• Believe In Miracles, Build an Empire: How Carolyn Aronson built and scaled It's a 10 Haircare to billion-dollar, international success

• From the Hard Knocks Library: Influence: The Psychology of Persuasion

• In Case You Missed It: We interviewed some of the richest moguls in Dubai and asked them how they got rich.

Let’s go!🔥

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Believe In Miracles, Build an Empire

Carolyn Aronson is the founder and CEO of It's a 10 Haircare, a worldwide professional haircare brand. What started as a grassroots company is now a global haircare empire in 125 countries.  

Carolyn began her career as a hairdresser. She stood behind the chair for over 20 years as a stylist and salon owner. In 2001, Carolyn dipped her toes into hair product manufacturing. However, around 2004, her business was going under and she almost lost everything. 

In 2005, Carolyn and her partner decided to start over with the $80,000 they had left. Instead of taking on more debt, they decided to bootstrap everything, fund things themselves, and grow slow and steady. 

Frustrated with brands that offered countless products with single benefits and hard-to-follow claims, Carolyn began working on a new all-in-one formula to bring to market. In 2006, she officially started It's a 10 Haircare. Carolyn's signature Miracle Leave-In Conditioner now sells millions of bottles a year.

Over the next decade, Carolyn worked hard to grow her business and learned a ton of hard lessons. Along with her partner, she grew the company substantially. In 2017, Carolyn bought out her partner and became the sole owner. 

That same year, Carolyn made history as It's a 10 Haircare became the first indie-owned, female-owned hair care brand with a Super Bowl ad. The ad showcased the nation's diversity and Carolyn's mission to bring Americans together, one hairstyle at a time.

In the last eight years as the company's sole owner, Carolyn was able to grow the business exponentially. Today, It's a 10 Haircare products are sold in big-name salon chains like Ulta and Regis along with over 25,000 professional independent salons. Carolyn is also a serial entrepreneur with 15 different companies in a variety of industries. 

It's A 10 Haircare is one of the only Latina and female-owned professional hair care companies in the world. Thanks to Carolyn's drive and organic passion for her products, she's been able to rise as one of the most successful hair care brands in history.

Inside the School of Mentors community, Carolyn shared a ton of entrepreneurial wisdom on a recent live call and Q&A. Here are four top takeaways:

Devil’s In the Details

As entrepreneurs, Carolyn reminds us to dot our I's and cross our T's along the journey. When she was just starting out, she focused too much on building. This led her to neglect some of those critical details that are essential to setting a business up properly.

Carolyn learned some hard lessons and had to make sure she had the right trademarks, IP ownership, and accountants in place. This provided her with the right support and guidance to continue to grow. 

If you're starting a business, don’t push things like bookkeeping, business formation, and obtaining the right licenses to the side. These tasks aren’t fun or glamorous, but getting them right at the start will save you from massive headaches later.

Selling Secrets

It's common to have jitters around selling your products or services in person. However, Carolyn believes we need more of it in today's world. Some people crave that kind of interaction and truly appreciate the chance to engage directly. It also leads to organic support for your brand.

Positive energy is magnetic. The key to selling in person is to go in believing in yourself and what you have to offer.

Be prepared to answer questions a potential client or customer might have and be fluent in your products and their benefits. Your goal isn't just to grab their interest, it's to help them understand why they need what you have.

Keep It Simple

Carolyn's brand competes with powerhouse companies like L'Oreal and Procter & Gamble. In the beginning, she barely had a marketing budget, but her 20+ years of experience in the salon industry helped her make a name for herself.

Carolyn decided to simplify things and brought something unique to the market that got her customers instant results. This raised the bar in the beauty industry, which is something Carolyn continues to do in her other businesses as well. 

If you're in an industry with a ton of competition, look to seize opportunities to bring new technology or new products within that market. Make sure you really know your consumer and market yourself in an easy-to-understand way that cuts through overwhelm.

Dimes to Dollars

Whether you're dreaming up a new business idea or working to take things to the next level, there can be a lot of fear around bringing your dreams to life. Carolyn reminds entrepreneurs that it's not what you have, it's what you do with what you have. 

Carolyn's father used to say, "I don't care if you have two dimes, figure out how you can rub them together and turn them into a dollar." 

If you're starting out with little to no money, don't be afraid to take risks and dive in. Use the little bit you have to invest in yourself and your business and work to turn it into more.

Connect with Carolyn here:

Instagram: https://www.instagram.com/itsa10ceo/?hl=en

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Words of Wisdom

From the Hard Knocks Library

In Case You Missed It

We went to Dubai in the United Arab Emirates to interview some of the wealthiest entrepreneurs and business people in the country. We asked them about the most amount of money they have made in a year and for their best career and life advice. We interviewed people in a variety of industries such as finance, tech, and blockchain. Check out the interviews here!

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